§ 5.26.180. Investment of Funds.

A.

County Contributions shall be allocated to the Investment Funds as specified under Sections 5.26.200 and 5.26.210. Subject to the other applicable provisions of the Plan and the Trust Agreement, the Trustee shall hold, manage, administer, value, invest, reinvest, account for and otherwise deal with each Investment Fund separately. The Trustee or Investment Manager shall invest and reinvest the principal and income of each Fund and shall keep each such Fund invested, without distinction between principal and income, in such property, investments and securities as the Investment Manager for such Fund may deem to be suitable and in accordance with the requirements for such fund specified by the Administrative Committee upon its creation.

B.

Dividends, interest and other distributions received in respect of each Investment Fund shall be reinvested in the same fund in accordance with the provisions of the Trust Agreement.

C.

The Trustee, in its sole discretion, may keep such portion of each Investment Fund in cash or cash equivalents either pending the selection and purchase of suitable investments under such Fund or as the Trustee may from time to time deem to be necessary or advisable to maintain sufficient liquidity to meet the obligations of the Plan or for other reasons.

(Ord. 2004-0064 §§ 1, 2 (part), 2004.)